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BioHeart Changes IPO Terms & Underwriters

BioHeart, a Sunrise, Florida-based developer of heart muscle regeneration therapies, has lowered its IPO price range from $14-$16 per share to $6-$8 per share. It has also increased the number of shares offered from 3.575 million to 4.167 million. If it prices at the top of its revised range, the company would have an initial market cap of around $140 million.

 

BioHeart also has changed underwriters, dropping BMO Capital Markets and Janney Montgomery Scott in favor of Merriman Curhan Ford & Co. and Dawson James Securities. It plans to trade on the Nasdaq under ticker symbol BHRT. BioHeart has raised around $40 million in VC funding since 2000, from firms like Ascent Medical Ventures, Guidant, Tyco Capital and Advent-Moro Equity Partners. www.bioheartinc.com